XAUUSD - KOG REPORT - Update

We're sharing an update on the KOG report today as we've been taking it slow on Gold only trading this level to level rather than trying to go in for the long trade. We can see the break to the upside of the range which gave us the resistance level above and the potential entry for the short. The range was tight and as we suggested earlier expect there to be spikes up and down to swoop up some liquidity. We will now look for this to try and target that lower support region at some point and look for a reaction there. We have FOMC tomorrow so we can expect more of this ranging, choppy, whipsawing price action until then.

From this morning in Camelot:

XAUUSD 06/04/22 1H

Support: 1928 / 1924 / 1917 / 1913 / 1909

Resistance: 1933 / 1940 / 1944-47 / 1955 / 1963


KOGs bias for the day:

Bullish above 1935 with targets above being 1940 and above that 1944.

Bearish below 1935 with targets below 1924, 1920 and below that 1910

Summary:

Gold continues to range with the range now getting smaller, between 1925-1935. With FOMC tomorrow its likely we will see them move the market any moment so expect spikes in both directions before it picks which way it wants to go. We will stick with the plan on the KOG report for now. AUD has made an aggressive move this morning, if correlations allow then there is a chance we may see some movement in the US session. Level to level please!